U.S. Industrial Production Unexpectedly Decreases In March

(RTTNews) - Industrial production in the U.S. unexpectedly decreased in the month of March, according to a report released by the Federal Reserve on Thursday.

The Fed said industrial production fell by 0.5 percent in March after climbing by 0.7 percent in February. Economists had expected industrial production to inch up by 0.1 percent compared to the 0.2 percent increase originally reported for the previous month.

The report said manufacturing output edged down by 0.1 percent, while mining output tumbled by 1.2 percent and utilities output tumbled by 2.3 percent.